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AIR-CURE ENVIRONMENTAL, INC. REPORTS SECOND QUARTER RESULTS

 AIR-CURE ENVIRONMENTAL, INC. REPORTS SECOND QUARTER RESULTS
 MINNEAPOLIS, Nov. 13 /PRNewswire/ -- Air-Cure Environmental, Inc. (NASDAQ: AIRE) announced today the results of operations for its second fiscal quarter. Net revenues for the three month period ended Sept. 30, 1992 were $1,229,500, compared to $2,411,926 for the same period last year. Revenues for the six month period ended Sept. 30, 1992 were $2,787,166, compared to $3,191,769 reported for the corresponding period one year ago.
 Net loss for the three month period was $138,533, or $.05 per share, compared to net income of $146,773, or $.05 per fully diluted share, for the same period last year. Net loss for the six month period was $265,006, or $.09 per share, compared to net income of $88,536, or $.04 per share, for the corresponding period in 1991.
 Air-Cure's revenues continue to be impacted by the delay in the issuance of regulations implementing the 1990 Amendments to the Clean Air Act, as well as the economic recession. Electric utilities, Air- Cure's primary customers in the coal handling market, are continuing to evaluate the various options available for compliance with the Amendments and are using the delay in the issuance of the Regulations to postpone purchasing decisions. Air-Cure believes that demand for the company's pollution control systems will increase as the utilities elect to switch from high sulfur to lower sulfur coal to fuel coal-fired generating stations. This change in fuel source remains the most cost effective compliance option in many circumstances.
 Air-Cure Environmental, Inc. designs, manufactures and markets proprietary air pollution control systems and components. These systems limit the emission of particulate and gaseous pollutants into the environment.
 AIR-CURE ENVIRONMENTAL
 Three Months Ended September 30,
 1992 1991
 Net Revenue $1,229,500 $2,411,926
 Cost of Revenues 954,447 1,826,342
 Gross Profit 275,053 585,584
 Selling, General and
 Administrative Expenses 473,264 326,733
 Depreciation/Amortization 38,130 27,760
 -- 511,394 354,493
 Operating Profit (Loss) (236,341) 231,091
 Other Income (Expense)
 Interest Income 7,019 37,888
 Interest Expense -- (25,206)
 Miscellaneous (1,211) --
 -- 5,808 12,682
 Earnings (Loss) Before Taxes (230,533) 243,773
 Income Taxes (92,000) 97,000
 Net Earnings (Loss) $(138,533) $ 146,773
 Weighted Average Shares
 Outstanding:
 Primary 2,858,677 2,513,545
 Fully Diluted 2,858,677 2,780,212
 Earnings Per Share:
 Primary $(.05) $.06
 Fully Diluted $(.05) $.05
 Six Months Ended September 30,
 1992 1991
 Net Revenue $2,787,116 $3,191,769
 Cost of Revenues 2,192,886 2,441,762
 Gross Profit 594,230 750,007
 Selling, General and
 Administrative Expenses 985,921 580,812
 Depreciation/Amortization 75,623 48,716
 -- 1,061,544 629,528
 Operating Profit (Loss) (467,314) 120,479
 Other Income (Expense):
 Interest Income 27,887 74,139
 Interest Expense -- (48,082)
 Miscellaneous (2,579) --
 -- 25,308 26,507
 Earnings (Loss) Before Taxes (442,006) 146,536
 Income Taxes (177,000) 58,000
 Net Earnings (Loss) $(265,006) $ 88,536
 Weighted Average Shares
 Outstanding:
 Primary 2,858,677 2,501,502
 Fully Diluted 2,858,677 2,768,169
 Earnings Per Share:
 Primary $(.09) $.04
 Fully Diluted $(.09) $.04
 -0- 11/13/92
 /CONTACT: Kam Tejwani (Chairman & CEO), Air-Cure Environmental, 612-571-0560; or Tom de Petra or Adrienne Griffith of DE PETRA & ASSOCIATES, INC., 612-338-7630, for Air-Cure Environmental/
 (AIRE) CO: Air-Cure Environmental, Inc. ST: Minnesota IN: SU: ERN


KH -- MN006 -- 0636 11/13/92 11:08 EST
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Publication:PR Newswire
Date:Nov 13, 1992
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